Regulations for Bid Bond, Guarantee Bond and Other Guarantees Article 19

The release of performance bond may be made in whole or in parts, conditional upon progress of contract performance, inspection and acceptance, maintenance or warranty period, etc., and this shall be prescribed by the entity in the tender documentation, upon considering the characteristics and actual needs of the procurement.Performance bond shall, unless otherwise prescribed in the contract or that there are circumstances in which it shall not be released, be released upon conditions for release have been met and when nothing is pending to be resolved. In the event that the contract is terminated, rescinded or suspended for causes not attributable to the supplier, the bond may be released ahead of time. However, where the contract is being suspended, a performance bond shall be deposited again when the cause for the suspension has been eliminated.Where procurement is carried out under multiple award pursuant to subparagraph 4 of paragraph 1 of Article 52 of the Act, and that the supplier deposits the performance bond for the awarded items jointly, the bond shall be released separately in accordance with the preceding two paragraphs.